KARACHI: The Sindh government on Friday unveiled Rs1,217 billion budget for fiscal year 2019/2020.
Announcing the budget for next fiscal year, Syed Murad Ali Shah, Chief Minister, Sindh said that the total receipts of the province for the financial year 2019-20 are estimated at Rs1,217 billion against an estimated expenditure of Rs1,217 billion.
He said that as Federal Transfers, the province is expected to receive Rs835.375 billion. Receipts from Federal Government will account for 74.3 percent of the total receipts. He said that the federal government has failed to achieve its target in yesteryears.
“We have adapted the figures communicated to us by the Federal Government. We strongly apprehend that Federal Government will not be able achieve its target unless drastic structural changes are introduced,” he said.
Failure to achieve its targets will create financial problems for the Provincial Government during the next financial year 2019-2020. Our own provincial receipts are growing steadily and provincial revenue targets are increased from Rs243.082 billion in 2018-2019 billion to Rs355.4 billion for financial year 2019-2020, the chief minister said.
On the current revenue side, the expenditure budget is estimated at Rs.870.217 billion which shows an increase of 12.5 percent over the current year allocation of Rs.773.237 billion. This increase in expenditure is primarily in the employee related expenses which could not have been avoided.
Similarly, the impact of increasing utilities has been absorbed. Our austerity policy shall continue during the next financial year. We have introduced major cuts in operating expenses. However, it would not be done at the cost of social sectors.
The Development portfolio for next financial year is Rs.283.5 billion which includes Rs.228 billion on account of Provincial and District ADP.
He said that the injustice meted out to Sindh in the Federal PSDP. He said that overall size of the federal PSDP was Rs.951.0 billion with Rs.127.0 billion of Foreign Project Assistance (FPA).
“Out of above portfolio, Sindh specific schemes are 50 both ongoing and new with an allocation of Rs.33.7 billion.,” Shah said and added: “total schemes included in the Federal PSDP 2019-20; which are by the Government of Sindh are 12 having an allocation of Rs.4.89 billion as compared to Rs.15.0 billion in 2018-19 and Rs.27.3 billion in 2017-18.”
